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SEC Halts Fraud Conducted by Purported Life Settlement Company ( 9/4/2011 )
The SEC alleges that Daniel C.S. Powell and his company Christian Stanley Inc. have spent the past seven years creating the illusion that it was a legitimate company involved in the life settlement industry. Contrary to what investors were told, Christian Stanley has never purchased or generated any revenue as a result of brokering the sale of a single life settlement, and has barely derived any revenue from any of its purported business ventures.
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Rising oil prices reach the consumer, threatening to slow U.S. economic growth ( 3/5/2011 )
Rising oil prices are putting strains on the recovering North American economy, hitting hard-pressed consumers who are still shaking off the effects of the global recession and threatening to shave as much as a half a percentage point off growth. The upheaval in oil-producing countries, notably the ongoing revolution in Libya, has driven world oil prices up by as much as $17 (U.S.) a barrel, and pump prices are nearly 20 per cent higher than they were just six months ago.
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SEC Obtains Settlement With CEO to Recover Compensation and Stock Profits He Received During Company's Fraud ( 3/5/2011 )
According to the SEC’s complaint filed today in federal court in Atlanta, CEO Ian J. McCarthy previously failed to reimburse Beazer Homes USA Inc. for bonuses, other incentive-based or equity-based compensation, and profits from Beazer stock sales that he received during the 12-month periods after his company filed fraudulent financial statements during fiscal year 2006.
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OSC gives $2M to teach students to manage money ( 3/1/2011 )
TORONTO — The Ontario Securities Commission is donating money to help teach the province's children how to be financially responsible. The Ontario government intends to introduce financial literacy to the curriculum for students in grades 4 to 12 this September, and Alberta is launching a similar program. Securities Commission chairman Howard Wetston said there has always been a need to teach people how to handle money. The recent global financial crisis makes it even more essential.
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Board Member of Goldman Sachs and Procter & Gamble Charged in Insider Trading Scheme ( 3/1/2011 )
The Securities and Exchange Commission today announced insider trading charges against a Westport, Conn.-based business consultant who has served on the boards of directors at Goldman Sachs and Procter & Gamble for illegally tipping Galleon Management founder and hedge fund manager Raj Rajaratnam with inside information about the quarterly earnings at both firms as well as an impending $5 billion investment by Berkshire Hathaway in Goldman.
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SEC v. Secure Capital Funding Corporation, Bertram A. Hill, PP&M Trade Partners, and Kiavanni Pringle. SEC Files Action to Halt International Investment Scheme and Obtains Emergency Asset Freeze and Repatriation Order ( 2/23/2011 )
The Securities and Exchange Commission announced that on Friday February 18, 2011, it filed an emergency action in U.S. District Court for the District of New Jersey against Secure Capital Funding Corporation, Bertram A. Hill, PP&M Trade Partners, and Kiavanni Pringle, to halt an alleged multi-million dollar international investment scheme that has defrauded investors in the United States and overseas. The Court issued a temporary restraining order freezing assets and ordering repatriation of investor funds.
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eMobile Data Corp., Encore Group Inc., Ener-Grid, Inc., Environmental Technologies International, Inc. (n/k/a Eco Technologies International, Inc.), Evergreen Network.com, Inc., and Eye Catching Marketing Corp. ( 2/23/2011 )
The Securities and Exchange Commission (“Commission”) deems it necessary and appropriate for the protection of investors that public administrative proceedings be, and hereby are, instituted pursuant to Section 12(j) of the Securities Exchange Act of 1934 (“Exchange Act”) against Respondents eMobile Data Corp., Encore Group Inc., Ener-Grid, Inc., Environmental Technologies International, Inc. (n/k/a Eco Technologies International, Inc.), Evergreen Network.com, Inc., and Eye Catching Marketing Corp.
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Home prices near 2009 lows -- and may fall more ( 2/22/2011 )
Home prices took a big hit at the end of 2010, even as the rest of the economy gained steam. National home prices fell 4.1% during the last three months of 2010, compared with 12 months earlier, according to the latest report from the S&P/Case-Shiller home price index, a closely watched indicator of market trends. They were down 1.9% compared with three months earlier.
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SEC Charges Seven in Global Warming Pump-and-Dump Scheme ( 2/22/2011 )
The SEC alleges that the group included stock promoters, traders, and a lawyer who wrote a fraudulent opinion letter. The scheme resulted in more than $7 million in illicit profits from sales of stock in CO2 Tech Ltd. at artificially inflated prices. Despite touting impressive business relationships and anti-global warming technology innovations, CO2 Tech did not have any significant assets or operations. The company was purportedly based in London, and its stock prices were quoted in the Pink Sheets.
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Ontario to create all-party committee to examine stock exchange merger ( 2/21/2011 )
TORONTO - Ontario's governing Liberals are opening the door to public hearings on the proposed merger between the Toronto and London stock exchanges. The government will propose to set up an all-party committee on Tuesday once the legislative session resumes, a government source told The Canadian Press.
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